Davis Rea LTD. grew its holdings in shares of CannTrust Holdings Inc (NYSE:CTST) by 7.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 532,785 shares of the company’s stock after acquiring an additional 36,650 shares during the quarter. CannTrust comprises 1.5% of Davis Rea LTD.’s investment portfolio, making the stock its 24th largest position. Davis Rea LTD. owned about 0.38% of CannTrust worth $2,669,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of the company. JW Asset Management LLC bought a new stake in CannTrust in the 1st quarter worth approximately $10,863,000. Toronto Dominion Bank bought a new stake in CannTrust in the 1st quarter worth approximately $2,025,000. Legacy Advisors LLC bought a new stake in CannTrust in the 1st quarter worth approximately $1,555,000. CIBC Asset Management Inc bought a new stake in CannTrust in the 1st quarter worth approximately $1,182,000. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp bought a new stake in CannTrust in the 1st quarter worth approximately $1,509,000. Hedge funds and other institutional investors own 5.79% of the company’s stock.
CannTrust stock traded down C$0.11 during trading hours on Tuesday, reaching C$2.62. The company had a trading volume of 2,353,200 shares, compared to its average volume of 2,495,784. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.38 and a current ratio of 5.64. The stock has a 50-day simple moving average of C$4.40. The stock has a market cap of $385.53 million, a price-to-earnings ratio of -23.82 and a beta of 3.51. CannTrust Holdings Inc has a 12-month low of C$2.43 and a 12-month high of C$11.97.
CannTrust (NYSE:CTST) last announced its quarterly earnings results on Tuesday, May 14th. The company reported C$0.09 EPS for the quarter, topping the Zacks’ consensus estimate of C($0.05) by C$0.14. The business had revenue of C$16.85 million for the quarter, compared to analysts’ expectations of C$17.00 million. CannTrust had a negative return on equity of 6.69% and a negative net margin of 22.33%. The business’s quarterly revenue was up 114.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.12 EPS. Analysts anticipate that CannTrust Holdings Inc will post -0.01 earnings per share for the current year.
CTST has been the subject of a number of recent research reports. Bloom Burton downgraded CannTrust from a “buy” rating to a “hold” rating in a research report on Wednesday, July 10th. Eight Capital downgraded CannTrust from a “buy” rating to a “neutral” rating in a research report on Monday, July 8th. Roth Capital started coverage on Electrameccanica Vehicles in a research report on Tuesday, July 9th. They issued a “buy” rating for the company. BMO Capital Markets raised Tourmaline Oil from a “market perform” rating to an “outperform” rating in a research note on Thursday, May 30th. Finally, Paradigm Capital reaffirmed a “buy” rating on shares of CannTrust in a research note on Thursday, May 23rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of C$7.25.
CannTrust Company Profile
CannTrust Holdings Inc produces and sells medical and recreational cannabis in Canada. It sells dried cannabis and cannabis extracts to the medical patients. CannTrust Holdings Inc was incorporated in 2015 and is headquartered in Vaughan, Canada.
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